Perspective
Jan. 19, 2011
California’s Regulation of the Internal Affairs of Foreign Corporations
The Legislature should focus on making the state's Corporations Code more attractive to new businesses. By John Edwards of Jones Day.
American corporations are creatures of state law. Each is formed under the laws of a single state. Promoters forming a new corporation are free to select any state's law to form their new corporation. Most corporations need not be - and quite often are not - incorporated under the laws of the state where they have their headquarters or do most of their business. Over 50 percent of publicly-traded companies and over 58 percent of the Fort...
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